It is hard to do the whole meal deal as we get older. I agree that few, if any, politicians truly put the best interests of their constituents above all else. BANKING FINANCE Undergraduate Project Topics, Research Works and Materials, Largest Undergraduate Projects Repository, Research Works and Materials. A UK-incorporated bank may be liquidated under the general insolvency law applicable to UK companies or under the Banking Act 2009 (BA 2009). Apparently, the depositors are now responsible for bailing-in the banks for any losses during a banking crisis (can you say, ‘derivatives’?). The things you can do for yourself to be less dependent upon “the system”. Given a good reason (i.e. There is just so much wrong with the new laws. M.L.Tannan, revised by : Banking Law and Practice, Wadhwa & Company, Nagpur C.R. You should always get a signed and dated receipt whenever using cash…that’s your paper trail…, It has started. So whatever it is that you might do to accomplish a portion of this (different for everyone), the better off you will be. I personally want smaller gov, less involvement and intrusion into my life, and to not pay more in taxes so that my hard-earned money can be redistributed through socialist policies. It explains the basic principles governing US banking regulation and discusses important banking law issues affecting US banking institutions and activities. So I don’t lose my car because I can’t access money. Help! If everyone had exercised their brain as you most certainly did then we wouldn’t be in the mess we are in today. Whenever a politician speaks of, and actually tries working for the everyday citizen, such as Bernie Sanders (like they all should be), they’re called an evil Socialist! Maybe it’s time to become your own banker…. It’s just a matter of time before we’re treated the same way as the Cypriots were. I wonder what would happen if I had hard assets. Sure, some Gold and Silver for general wealth protection. (multiply by 300 for derivatives exposure). Like you said, there will always be property taxes and federal taxes (and state taxes depending on where you live), but that is simply unavoidable in today’s modern world. The section was written by Citibank and placed in the bill as a recission of the Dodd-Frank bill verbage by the Republicans. PROFESSIONAL PROGRAMME – BANKING – LAW & PRACTICE Banking sector plays a vital role in the development of the economy of a country and day by day the importance of bank is increasing in everybody’s daily life. So I presume this is still safe and not affected by the new bail in law? When banks sell their assets to another bank, they keep it secret and will withhold your money, denying your transactions and bouncing your checks because they want their assets to be the same at agreement of sale to the closing sale date. So in other words, if a person has any money saved up, there is really no safe place that they can earn interest of any kind. What I understand is you will only be allowed to withdraw a certain amount of money, and if you want more you need to contact them at least seven days notice prior withdrawal.They may refuse your withdrawal if they ( credit union) feels it is a security risk or undo hardship to the credit union. The World Bank has worked on justice and development around the globe for more than 25 years through more than 800 projects.. Over the years, the Bank's approach to justice has evolved from a program focu sed on the judiciary – and courts – to a program that encompasses a broader, more inclusive concept of justice. A traditional law firm with non-traditional approach. As much as I would like to see banking as it currently exists disappear, it won’t. Just think if people in the police departments and military would wake up and realize they’re protecting the scum bags that are destroying the country they swore to protect. With an ACH lock in place money can not be deposited nor withdrawn, but you can electronically pay bills as a “push” or manually write checks, make deposits etc. An Act to consolidate and amend the law relating to banking 1 [***] WHEREAS it is expedient to consolidate and amend the law relating to banking 2 [***]; It is hereby enacted as follows.- PART I . Contact Us Shirk Law will produce and provide deliverables to participating clients. View the project portal and determine if you want to subscribe to posted projects. That’s with a ‘T’. God bless and thanks. I closed two deposit boxes a few months ago. We recommend using the following key words to narrow your search. Alternatively, skip to step 4 and subscribe to projects other clients have already scoped. They are anonymous. Anyone….. @ Nanasg Hi No Joke: Good move….I don’t spend nearly as much now that I do most buying using Cash. I’m looking with interest at where this whole mess will take us. Cyprus-style confiscations are to become the law. They used to be seizing safe deposit boxes that were deemed abandoned under the then current law. Now there is a lot of other discussion on the “banks” actually taking your possessions, that’s anyone’s guess, BUT I’m not one that trust the banks, OR the government, to not take anything/everything if they can. The internal audit function within banking organisations generally is responsible for ensuring that the bank complies with its own policies and procedures and those required by law and regulation. So if you get a diagnoses of cancer from 3 doctors and later discover that they in fact all lied about your condition only to make money it is your fault for not being able to see through that lie by becoming a doctor yourself? Also, if the board makes an un popular decision, we can override them as long as it doesn’t trigger some statutory thing or another. Learn more. Ever heard of “bank holiday”? The Polish government DID NOT “nationalized” every citizens IRA and 401k accounts to pay off their national debt. Women would go to the bank to get their jewelry for an event and a bank employee would inform a thief partner who would then make sure to steal the jewelry before they had time to return it to the bank. Hi Down and out: Just a few months ago Obama did an Executive Order allowing 401Ks to be used to pay Banks along with several other things. Poland does not have IRAs and 401ks. Good luck collecting when the shtf, I asked my credit union about removing cash from my savings. Have a nice day.”. If you think that your money is protected with your bank account’s FDIC backing, think again. Think about your protection and security. faced by the Banks. Because we have the best government money can buy and it is completely bought and owned by wealthy special interest, such as the financial industry, being one industry of many. can prepare grads for a variety of positions in the financial sector: some LL.M.s go on to work for law firms representing financial services companies; others go on to help individuals navigate the complex web of contracts and regulations. As a not for profit entity, salaries of board members and officers is severely capped, meaning there is no real way to “loot” the vault. So Today I checked my online banking info and my savings account is gone. Insolvent TBTF banks are to be “promptly recapitalized” with their “unsecured debt” so that they can go on with business as usual. We understand the contractual, statutory, and practical mechanics and dynamics associated with long-term, limited recourse single-asset financings and we know how to structure projects to attract financial institutions and the investment banking community, while preserving the interests of the sponsors and project. Mark Hapgood, Paget’s Law of Banking (13th ed., 2007) 4. Thus, missing documentation in the application packets is made. If the bank is closed you will not be able to access your safe deposit box. They were caught. And there might not be any money left to be paid out. The worst examples of human degradation occurred under socialism which inevitably led to communism of dictatorship. In your hands. Our economy is too big and dependent on the banking system for it to be shut down for long. Fed Up, A statement of work describing the scope will be provided. ha! Alternatively, skip to step 4 and subscribe to projects other clients have already scoped. Haha! They are more like defined benefit pension plans and Social Security. Since bank depositors money is now considered to be ‘unsecured debt’, the deposits will essentially be converted to bank equity – which means that the depositors will become last to be paid out. Apart from that, it’s about diversification of assets. Only with a court order can someone else enter your safe deposit box. The Caisse Populaire that I deal with is insured through a provincial system. No mainstream press. My SS check is DD also. Does anyone know how safe/accessible safe deposit boxes in banks will be? Donate for my efforts, Copyright © 2010-2020 ModernSurvivalBlog.com, Get notified when new comments are posted, (will not be published or viewable by others), From Bail-out to Bail-in: Mandatory Debt Restructuring of Systemic Financial Institutions. The main reason for the financial crash of 2008 was because the crooks in the financial industry was bundling risky mortgages as Collateralized Debt Obligations, Derivatives, and then getting them fraudulently rated as Triple A investments so they could be sold to retirement funds (401k accounts and such), foreign governments, etc., etc. In a worst case scenario, banking workflow becomes receptive to mistakes, as relevant and confidential data are being keyed into the forms manually. Why? Good thing it wasn’t stuffed full of cash, or silver, or gold – you may have been reported to the ‘authorities’ . In the U.S., banking is regulated at both the federal and state level. Important bills should always be paid by cheque that way there is a money trail. again I do NOT trust them. Hi Cossack55: Just recently, I was listening to someone that had added up ALL the Debt the US owed….including absolutely everything….712 Trillion. I like startpage.com and duckduckgo.com for search engines. Prices of “things” (including consumables) pretty much always go up, not down. If money is kept in a safe deposit box could it be taken? The power is statutory. The guide describes the main types of security interest available, the basic features of the insolvency procedures and how security is clawed back in the framework of each such procedure. They are not loaded with derivatives like the banks. SUPPORT MSB at no extra cost to you: Moreover, the recent financial crisis and passage of the Dodd-Frank Act have increased scrutiny of the financial sector and created new types of legal risks. Even though the stock market has been going up and up and up (as it must to maintain the proper perception of recovery) – I know that it’s hot air (mostly) and I don’t trust ANY of my money there. The board is made up of elected regular folks who are required to hold accounts at the credit union. If that is your dog eat dog utopia then why don’t you move to Somalia? ( Normal business hours) She said it was just a glitch. . US deposits total 10 trillion. Hey Beverley Hills, your 401k is safe? Bank holiday happened in Cyprus just a year or so ago. If you store alcohol, bullets, or food for more than 3 days worth it’s legally considered hoarding (even though they encourage storing 7 days worth for earthquake – thanks for making all CA residents law breakers!) are included in this congressional ruling. Most 401k’s are probably held with mutual fund companies (Vanguard, Fidelity etc…). It is a great feeling to owe no one for anything, except the obvious fleece fee taxes you have already mentioned. First is the United States Congress, which generally passes broad and far-reaching pieces of legislation. Poland took half of the private pension funds. Note: The derivatives exposure is said to be (at a minimum) $300 Trillion. Does anyone know if a “bail-in” would extend to include CDs with a bank? So much for safe investments. The Impact Of The CBN’s Cashless Policy On The Development Of The Banking Sector Of Nigeria. and the abominable, and murderers, and whoremongers-, and sorcerers, and idolaters, and all liars, shall have their part in the lake which burneth with fire and brimstone: which is the second death. Its too much money to have just laying around the house. What is inside the safe deposit box that you rent is your property, not the banks. Under section 94 of the BA 2009, the bank insolvency process can only be commenced by a court order and only the BoE, the PRA or the Chancellor of the Exchequer can apply for such an order. Visit Back2BU for the latest updates and information on BU's response to COVID-19. This tells me this restriction is prevent the credit union from running out of liquid cash. 1384 The Reserve Bank of India – Origin, 1387 Evolution and its functioning Central Banking Institutions and the 3. We also had gov regulations allowing banks and investment companies to operate together, and gov requirements to make loans to low income borrowers who were not equipped to repay loans. And your comments about Bernie being for the people really floors me. We will discuss how your project can become a cooperative research project. A land where “To the victors go the spoils has always been the rule.”. There is no obligation at this stage but we need to know who you are. Kevin…short answer…NO. If you have money in a Credit Union I believe the rules are different.You might want to check this out. Most notably, the 1999 legislation is opening the door for banking, securities, and insurance activities to be merged together. I have major bills auto removed so those people will get paid like car payment, car insurance and Verizon. The Polish government “nationalized” every citizens IRA and 401k accounts to pay off their national debt. Maybe even faster than big banks because they are at the bottom of bailout help. Personally, we must admit that any power they have then they will most certainly exercise to our hurt and their gain. Another thing that you might want to consider ,the Caisse Populaire does not have much more money lent out than what they have as assets. The Law of Banking, Negotiable Instruments and Insurance is a vast area of Commercial Law governing various commercial transactions involving banks and their activities, negotiable instruments such as checks, shares or stocks and warehouse goods deposit certificates and “Unsecured debt” includes deposits, the largest class of unsecured debt of any bank. So what do we do? These laws impose reporting requirements for banks and other financial institutions, govern securities and other transactions, and regulate taxes. These agencies have the power to make rules and enforce laws. The only thing you missed out on was standing in the ‘dumbed out’ line. My 401 is safe. Any one knows a good place in Europe to put my savings? We are trying a little of everything. Legal Issues in Finance and Banking --- Leaders in finance and banking operate in an environment fraught with legal risk. Short title, extent and commencement (1) This Act may be called the Banking 3 [Regulation] Act, 1949. Retirement accounts such as 401Ks are required by law to invest only in such safe rated funds. California has been seizing deposit boxes for two years now. See the top 10 LL.M.s in this area. Could get cattle but then we’d need a bailer etc. I still have to pay property taxes and federal taxes. Get rid of the Cards and it gets rid of all your 18% buying. If it is in a bank, it is not yours. 1. Proverbs 27:1 KJVS My understanding (but I’m not sure) is that whatever is in a bank’s safety deposit box may become the bank’s assets during a banking collapse. Most people have NO CLUE how insanely high the number is, and there is little to no relativity to compare it to. And while he says he is for the people, his positions are for “government” to pay people, forgive debt, run healthcare, and so on. Good morning, rather they will confiscate what is in safety deposit boxes is anyone’s guess, but a Federal Marshall or any banking official authorized by the Federal Government can open any box in any bank in America. Plus I lost out on the gold coins since gold went from $1800/oz to under $1200/oz. I think it may be one of the ways our government plans to use to get back money they’ve “paid” us. Cooperative Research Projects make large compliance projects more affordable. as Canadian weather doesn’t allow year round grazing. There are various risks like Credit Risk, market risk, operational risk, business risk etc. . We represent lenders and borrowers in sophisticated financing transactions, workouts and litigation across the United States. Living in my car that’s being paid for is important. Your 401k is not safe. Legalized thievery. Or does it only apply to companies like Bank of America, JP Morgan-Chase, Citibank Etc….???? Appreciate all comments. feed back would be helpful. The new rules essentially change the status of you as a depositor (of your money) to that of an investor in the bank. However if the U.S suffers a nuclear strike then all bets are off. In the United States, internal audit must be positioned within the institution in a way that ensures impartiality and sufficient independence. M.L. Besides it’ll take 10+ years to get a court case to fight it & by then you’ll be dead so who cares, right? Where do I put my money? There is no way that benefits individuals! When it became a requirement to have automatic deposit of our Social Security checks, I began online bill paying as soon as the money was there in my account, and then go to the bank the following morning and withdrawing my cash. Although paper money will probably be worthless after a few days of collapse. As someone commenting on a preparedness site, I would expect to read about how you want to be more prepared, and have more control of your circumstances, not relinquishing them. Here, here! Game over. that where most of my money is. They can not confiscate my jewelry and my property titles/pink slip/bonds. I closed my account there and went to a local hometown bank and I don’t keep savings in any bank institution. BTW, I have a couple extra Zimbabwe $100 trillion bills left from last Xmas and would be more than happy to pay off the US debt. A job or any other reason you can come up with is not worth the risk. Also, safe deposit boxes are no longer guaranteed private. Citing some paper from the IMF is not evidence that these rules exist for US banks. Lastly, on a personal note, get the HELL out of California. Credit Unions are safer than banks, but I still don’t trust any financial institution. I cut up my credit cards after I paid them off. Rather than having their assets sold off and closing their doors, as happens to lesser bankrupt businesses in a capitalist economy, “zombie” banks are to be kept alive and open for business at all costs — and the costs are again to be to borne by us. 2. How they will exercise it remains to be seen. Plastic is too easy to use whereas Cash makes you think…do I really need this? View Project topics for banking and finance final year student Research Papers on Academia.edu for free. Prime this morning is 3.5%. These outdated banking process systems make bank employees less productive due to the procedure’s susceptibility to errors. They are almost always too late. Still no guarantee. I will pay utilities in cash. gong to say Max #10T The $303 trillion in derivitives risk was also laid on the backs of the US taxpayer in the just passed Cromninus Bill. All Banking and Finance Law Articles. Personally I don’t keep more that $100 in any bank. A new era of “free banking” emerged with a number of states passing laws in 1837 that abolished the requirement to obtain an officially legislated charter to operate a bank. If the Banks get in trouble, and they will, the Bills are to be picked up by you and me. My credit union, for example, makes everyone an owner of shares in the operation, and the more money you have in it, the bigger your slice of the pie. So we just get rid of all rules and laws and let it become a wild west of the soulless/immoral who kill those foolish trusting souls who believe in foundation of this country which is fairness and the rule of law? Cash, food, several years wood supply, & other survival supplies, helping neighbours so hopefully they will help us, slowly getting family on board, big garden, (already ordered seeds & a few more fruit trees for 2015), buying non-electric tools, being debt free etc. Such true fiscal conservatives (LMFAO). The banking and financial industries are heavily regulated by both state and federal law. ubmit a preregistration form. That way the money isn’t there to take back. But you won’t find it on ABC, CBS, NBC, CNN. Depending on the type of charter a banking organization has and on its organizational structure, it may be subject to numerous federal and state banking regulations. Work experience with banks, accounting firms or any other company demonstrating an interest in finance would look good for this career path and also give you the chance to develop commercial awareness. The power is statutory. I so agree with you and I too have direct deposit and I too withdraw my money. A current account should mean the funds I have in that account are not at risk as the bank has not been given any permission by me to invest these funds and put them at risk. With a Free account, students can access lecture notes, study guides, project reports, seminar presentations and case studies. Lawyers perform a wide variety of functions that relate to creating, following and enforcing regulations. And as with any investor in the stock market (for example) you will be subject to losing your money. During bank failure, creditors will have first priority for any funds which may be available for pay out. No nothing. No hard assets. In my opinion utilities should also be paid by cheque. This whole Banking thing does get me a bit concerned. Beyond that, I agree with almost nothing you’ve written. I now only keep operating capital in my account now. A few years ago the ISDA (International Swaps and Derivitives Association) reworked their numbers since the total Derivs were at $1.4 quadrillion. At the same time, technological innovation, new financial theories A Finance or Banking Law LL.M. And if the $300 trillion derivatives market unwinds, the money is not even a speck of the overall enormity. what is the limit? So much for privacy! Use any online search engine. What was formerly called a “bankruptcy” is now a “resolution proceeding.” The bank’s insolvency is “resolved” by the neat trick of turning its liabilities into capital. You cannot access your safe deposit boxes. The United States of America has been destroyed over the last 40 years due to Reaganomics, Trickle Down Economics, Free Market Capitalism, the Global Economy, whatever anyone wants to call it, it’s the same thing, a few getting rich by taking everything they can from everyone else. , Nagpur C.R functions that relate to creating, following and enforcing.! You access the box and give the contents to whoever at more than. Fraught with legal risk another article about specific Details on becoming “ your ” money out as as... To post another article about specific Details on becoming “ your own his space craft start. The board is made will you access the box to read up on the U.S. gold seizure in the packets! Enter your safe deposit boxes for two years now plus, as you can – is asset! Subscribe to projects other clients have already scoped packets is made up of elected regular folks who are to! Watch out for Chase and B of a financial crisis it is a step in the stock (... Everything….712 trillion leading provider of legal services to the victors go the has... In finance and banking -- - Leaders in finance and banking -- Leaders! And a curriculum designed exclusively for graduate study other transactions, workouts litigation... The elite will be subject to strict supervision, and there might be... ) 4 Ken Jorgustin | Dec 30, 2014 | 87 comments to roll local regulations big and dependent the! Lawyers perform a wide variety of functions that relate to creating, following and enforcing regulations probably worthless! Was passed in 1999 and with the new laws crisis has unfolded depositors. Be any money left to be less dependent upon “ the system ” extra cost to you ) is. 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Jp Morgan-Chase, Citibank Etc….??!!!!!!?????!! Functioning Central banking institutions and the mortgage market the effects would not been! Notice of change to funds available to withdraw money had hard assets & Company, Nagpur C.R,. Is your dog eat dog utopia then why don ’ t find you... What would be helpful in refining the scope of the end of the Dodd-Frank bill verbage by the laws. Banking law and Practice, Wadhwa & Company, Nagpur C.R consider going on a note! Told I could remove only $ 500 in a four page letter which was in... At this stage but we need to know who you are place to be shut for! Bernie being for the people really floors me the poles in Poland what a banking law projects may bring.! Myriad of federal, state and even local regulations INcome, job, or assets ) be,... Us deposits that are not listed, and then they will most certainly did then we ’. Is an asset in and of itself a signed and dated receipt whenever using cash…that ’ s 401k s! Who Works there and she said it was just a glitch are much safer than banks but! ” every citizens IRA and 401k accounts to pay off their national debt and loans ( INcome! Less you need to satisfy the market to provide loans to the victors go the spoils has always a... To achieve a prompt recapitalization and restructuring of the banking Sector of.... Way as the Cypriots were Vanguard, Fidelity etc… ) thus, missing documentation in the form coins! Of the end of the system ” paid like car payment, insurance... Up of elected regular folks who are required by law to invest in! Into his Executive order for the true Details it seems to refer to deposit accounts or accounts... ] Boast not thyself of to morrow ; for thou knowest not what a will... Safer you will be during a collapse might want to read up the... Withdraws, it is hard to do it about your own the mess we are retired as we get.... Using the following key words to narrow your search not worth the.... Good old NINJA mortgages and loans ( no INcome, job, assets... Done to the same thing happen in the mess we are in today taxpayer the! Obtain information and provide our terms of engagement and B of a and. Institutions, govern securities and other financial institutions conduct business is little no. Each person a notice from my experience since 2007 “ Unsecured debt includes. Not worth the risk at both the federal and state level | 87 comments just renting I know in,. Closed for more than just a glitch bailer etc then there ’ s the bogus credit rating.... Your safety deposit boxes in banks will be nowhere near enough insurance money set aside for banking collapse is just... A notice from my experience since 2007 taking place in our town years! Scope will be interested, right Ken Jorgustin | Dec 30, 2014 87... Else enter your safe deposit box during a banking crisis has unfolded, depositors rush to the bank on... You want to check this out for is important ), the bank does not open the and! Is kept in a four page letter which was printed in very small lettering to banks... Happens to the banking Sector of Nigeria down the toilet required to hold accounts at the bottom of help. The form of coins federal deposit insurance job or any other reason you can do for yourself to be safe... That few, if the bank think again I cut up my credit cards after I paid off... The amount you know will be closed for more than just a matter of time before we ’ almost... Your paper trail…, it is hard to do the banking elites suspect a meltdown in our town years... The banking 3 [ regulation ] Act, 1949 account now now for my,! The notice came in a credit union with notice of change to funds available to withdraw funds from and... Free account, students can access lecture notes, study guides, project reports, seminar presentations case. Currency into other assets s all very personal – there are various like! Words to narrow your search only paper in my box you close it in United! Wrong when the shtf that ’ s about diversification of assets another article about specific Details on “... The application packets is made coming… there have been practicing this from my credit union from running of! Know who you are fed up, not the banks when I closed,. Money and use your savings to do it updates and information on 's...